Central Banks Lower Rates, Markets Surge

The markets surged to a sharply higher open with the Dow leaping 392 points to 11,947 after central banks lowered their borrowing rates. Nasdaq jumped 80 points to 2596.

On the upside

Bradesco (NYSE: BBD) will webcast its Brazilian Association of Investment Analysts meeting live today.


Shares of coal producers Alpha Natural Resources (NYSE: ANR), Arch Coal (NYSE: ACI) and Patriot Coal (NYSE: PCX) climbed after Morningstar wrote that coal demand was rising in China and India.

Pennystockinsiders.com issued a research report on Dex One (Nasdaq: DEXO).

On the downside


OmniVision Technologies (Nasdaq: OVTI) reported lower second quarter earnings and forecast current quarter results that fell far below analyst expectations.


National Retail Properties (NYSE: NNN) priced its public offering of 7 million common shares at the discounted price of $25.75 per share.

Clearwire (Nasdaq: CLWR) must decide by tomorrow whether to make an interest payment of $237 million or use the cash to fund operations.

In the broad market, advancing issues outpaced decliners by a margin of more than 15 to 1 on the NYSE and by a margin of nearly 9 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 27 points to 723.

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